The directors recognize the importance of sound corporate governance commensurate with the size of the company and the interests of the Shareholders. So far as is practicable, taking into account the size and nature of the Company, the Company complies with the requirements of the Corporate Governance Code for Small and Mid-Sized Quoted Companies 2013 published by the Quoted Companies Alliance from time to time. Accordingly, the Company has established an audit committee and a remuneration committee.
The audit committee, which will comprise Gidon Tahan, Eitan Yanuv and Chaim Levy and which will be chaired by Chaim Levy, will be responsible for ensuring that the financial performance, position and prospects of the Company are properly monitored and reported on and for meeting the auditors and reviewing their reports relating to accounts and internal controls.
The remuneration committee which will comprise Gidon Tahan, Eitan Yanuv and Chaim Levy and which will be chaired by Chaim Levy, will review the performance of executive directors and set their remuneration.
The Company has adopted a model code for directors’ dealings in securities of the company which is appropriate for a Company quoted on AIM. The directors will comply with Rule 19 of the AIM Rules relating to directors’ dealings and will take all reasonable steps to ensure compliance by the company’s “applicable employees” (as defined in the AIM Rules).
The Company is subject to the City Code on Takeovers and Mergers, as published by the Panel on Takeovers and Mergers and updated from time to time.